ANNAPOLIS, MD / ACCESSWIRE / November 12, 2014 / Solar Wind Energy Tower, Inc. (SWET) (the "Company"), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today is pleased to announce that it has received notification from the California Energy Commission (CEC) of the approval of the Company's Precertification Application for its Energy Tower Facility, located in San Luis, Arizona.
The CEC evaluated the application submitted on behalf of Arizona Green Power LLC, a wholly owned subsidiary of Solar Wind Energy Tower Inc., for the proposed San Luis Energy Tower Facility for precertification and determined the facility eligible for California's Renewables Portfolio Standard (RPS) under the criteria specified in the Renewables portfolio Standards Eligibility guidebook, Seventh edition, CEC-300-2013-005-ED7-CMF, April 2003.
Effective on October 15, 2014, the precertification will remain in effect unless it is voluntarily withdrawn, the Commission is notified that the facility will not be built, or the application is revoked because of noncompliance with the applicable RPS requirements.
Once an application of certification for the facility is approved by the CEC, the precertification status will be converted to certification status. Beginning October 15, 2014, all power generated from the San Luis Energy Tower may be used for RPS compliance purposes if all of the requirements specified in the PRS Eligibility Guidebook, Seventh Edition, continue to be met. As submitted in the application, the proposed facility is using Solar Thermal Electric as the only energy source to generate electricity.
Ron Pickett, CEO of Solar Wind Energy Tower, commented: "Receiving our California Energy Commission precertification/designation allows Arizona Green Power to move forward and participate in formal responses to requests for proposals (RFP's) for alternative energy power purchase agreements (PPA's) and to submit unsolicited proposals to utilities and private companies within California. This is a significant step in the continued development of the San Luis, Arizona Energy Tower Project."
About Solar Wind Energy Tower, Inc.:
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site's local weather data. The Company secured the site for its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market.
The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol "SWET."
Cautionary Note Regarding Forward-Looking Statements:
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
SOURCE: Solar Wind Energy Tower, Inc.